Exports likely to grow 10% this year
The target for export growth is expected to be set at 10 per cent for the current fiscal year, a cautious stance in the wake of challenges like power and gas shortages and pressure on the textile sector because of heavy production of cotton globally, a top trade official said.
In the previous fiscal year which ended in June, Pakistan’s exports rose 35 per cent to $24 billion and the target for the current fiscal year is expected to be set at $27-28 billion.
Trade Development Authority Chief Executive Tariq Iqbal Puri told The Express Tribune exports grew both in terms of value and volume last year and one of the major reasons for the increase in exports was the hike in prices of products in the international market.
There had been a considerable increase in exports during fiscal year 2010-11 in spite of the power crisis, high production costs and issues like terrorism and law and order situation, he said, adding statistics were being finalised and the export figure might reach around $25 billion.
He said major credit for the record high exports went to exporters, however, officers and staff of the Trade Development Authority also deserved acknowledgement for their day and night efforts. He said the achievement of record exports would be celebrated in a special ceremony this month.
Published in The Express Tribune, July 12th, 2011.
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1719053250-0/BeFunky-collage-(5)1719053250-0-270x192.webp "non solar consumers bear rs200b burden")
If exports rose mainly on the back of high international prices what was the "day and night efforts" of the TADP got to do with the results?
A 10% increase is very modest but comes on top of a high base.